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Business Standard
14 hours ago
- Business
- Business Standard
Colab Platforms enters Esports Arena; Industry projected to grow to USD 6 billion by 2030
VMPL Mumbai (Maharashtra) [India], June 21: In a move to shape the future of digital sports in India, Colab Platforms Limited (BSE: 542866), leading sportstech and gaming company has announced its foray into the billion dollar opportunity - Esports. With a vision to build India's most rewarding competitive gaming ecosystem, company is building a player-first competitive gaming platform for India's digital-first generation. This new venture will focus on building India's most transparent, skill based esports infrastructure, designed for both casual and pro gamers. Backed by Colab's robust digital and operational ecosystem, the platform will feature low-entry, high-frequency competitive formats, creator-led tournaments, and proprietary game servers--starting with Counter-Strike 2 (CS2) and expanding into AAA and mobile titles in phases. Highlights:- -Colab Platforms is building a player-first competitive gaming platform for India's digital-first generation. -India with over 594 million online gamers and young populations has potential to become a Global Esports hub -The platform will feature low-entry, high-frequency competitive formats, creator-led tournaments, and proprietary game servers--starting with Counter-Strike 2 and expanding into AAA and mobile titles -Esports is expected to contribute Rs.1100+ crore to India's economy by 2025 -Company has launched Rs. 250 million accelerator programme to drive sports-tech innovation in India Esports is expected to contribute Rs.1100+ crore to India's economy by 2025, with over 1.5 million esports athletes and growing. As India readies itself for the global gaming spotlight, Esports has rapidly evolved from niche subculture to a billion-dollar global industry. In 2024, the global Esports market surpassed $1.7 billion, with projections of reaching over $6 billion by 2030. With its inclusion in events like the Asian Games and discussions around Olympic recognition, esports is no longer just entertainment--it's a sport of the future. Venture into Esports aligns with Colab's broader vision of building a 360° sports ecosystem, which already includes ventures in sports commerce, athlete development, fan engagement tools, and sports-tech innovation. It will also synergize with Colab's existing initiatives: -Integration with Colab's Sports Innovation Accelerator for esports startups -Co-branded streamer partnerships and leagues for visibility and user acquisition -Expansion into mobile esports, VR arenas, and gamified fitness formats in future phases India, has a potential to become a global Esports hub with over 594 million online gamers and one of the world's youngest digital populations. Government initiatives like eSports recognition under the Ministry of Youth Affairs & Sports, and growing corporate and academic interest, are further fueling this momentum. Puneet Singh, Managing Director of Colab Platforms Ltd, said, "Esports isn't just the future of gaming--it's the future of entertainment, career building, and digital identity. At Colab, we're building an esports ecosystem where every match, every win, and every hour of gameplay creates real value for the player." Colab aims to become the platform of choice-- where skill matters, community thrives, and careers are built. Company also aim to scout and elevate India's top gaming talent--creating a pipeline that can compete in global leagues and represent Indian esports on the world stage. Colab Esports: What Makes It Different At the heart of Colab's esports vision is a commitment to accessibility, fairness, and next-gen competition. Built with India's Gen Z and Millennial gamers in mind, the platform is designed to break barriers and reimagine what competitive gaming can look like--rewarding, community-driven, and inclusive. From hyper-local engagement strategies to creator-led tournament formats and a player-centric progression system, Colab Esports is laying the groundwork for an ecosystem where every player--casual or competitive--finds their space to grow, compete, and win. Colab is aiming to build not just another esports platform, but a nextgeneration gaming infrastructure ready to scale with the country's digital sports revolution. For the financial year 2024-25, the company has reported consolidated Total Revenue Rs. 70.05 crores, up from Rs. 2.25 Crores in FY 2023-24 -- a massive 3006.18% increase. Net profit stood at Rs. 2.86 Crores from Rs.1.78 Crores last year, a growth of 60.4%. In Q4 FY2024-25, company recorded Total Revenue of Rs. 20.49 crores, Y-o-Y increase of 7638% growth. Net profit for the quarter was Rs. 95.29 lakhs, up 379.11% from Rs. 19.9 lakhs during the same period last year. Strategic Initiatives of Colab Platforms in FY 2024-25:- -Entered the Rs. 15,766 crore sports management and tech sector, to leverage its technological prowess across various segments including management and development of sports Intellectual Properties (IPs), Fan Engagement platforms. -Acquired the Northern Challengers team in the Big Cricket League, captained by former India opener Shikhar Dhawan, enhancing brand recognition and direct fan connection. -Launched a dedicated marketplace for sports and fitness products, catering to India's rapidly growing $58 billion sports and fitness industry. -The company also announced its entry into the predictive gaming market, targeting a Rs. 50,000 crore opportunity with a rapidly growing user base. -Introduced a Rs. 250 million Sports-Tech Growth Accelerator Program to empower early-stage startups, fast-track innovation, and transform India's sports technology ecosystem. About Colab Platforms Ltd. Colab Platforms Limited is listed on the Bombay Stock Exchange. The company has been delivering innovative technological solutions across various sectors, leveraging its expertise in advanced technologies to drive growth and enhance user experiences. Colab Platforms Limited is dedicated to providing customized, technology-based processing solutions that help clients achieve their objectives and exceed expectations. Recognizing India's rapid emergence as a global technology hub, Colab Platforms harnesses the nation's diverse and talented professionals to contribute significantly to the development of the professional community. For more information please
Time of India
22-05-2025
- Business
- Time of India
Interim relief for Puneet Singh, Gensol for usage of defamatory words against them
A Delhi court has allowed interim relief sought by Puneet Singh , co-founder, Gensol Engineering Ltd , the company and its affiliate BluSmart for usage of defamatory words which are unsubstantiated or unverified. The court has however clarified that the order shall not have any bearing on the merits of the matter and shall not be construed to restrain any person from reporting about investigation and court proceedings in relation to the allegations so long as it is fair and accurate reporting based on duly substantiated, conclusive and verified material. Singh was represented by his advocate Ayush Jindal. Jindal had argued that the publication contained reckless innuendos, distorted facts, prejudicial implications thereby violating plaintiffs rights guaranteed under Articles 19 & 21 of Constitution of India. It is also stated that the defamatory material constitutes an egregious assault upon the personal and professional reputation. The court while granting the interim relief opined that Court very much understands and recognises that there is freedom of speech and expression under Articles 19(1)(a) of the Constitution of India, however, these are not absolute rights but have limitations contained within itself under Article 19(2) of the Constitution. The Ministry of Corporate Affairs, the National Financial Reporting Authority (NFRA) and the Enforcement Directorate are looking into the books of Gensol Engineering following fraud allegations In April, Sebi banned the promoters of renewable energy company Gensol Engineering Ltd , brothers, Anmol and Puneet Jaggi, from the capital markets over alleged fund diversion and document falsification. The regulator also ordered a forensic investigation. Soon thereafter, BluSmart, an all-electric vehicle ride-hailing service promoted by the Jaggi brothers, began shutting its operations. ED's Fema case is focusing on whether funds to the tune of Rs 200 crore routed through a car dealer and cycled back to promoter-linked entities were in contravention of FEMA norms. Some of it was used for unrelated personal expenses, including buying luxury real estate. At the centre of the controversy is the alleged misutilisation of term loans availed by Gensol Engineering Ltd from state-run Indian Renewable Energy Development Agency and Power Finance Corporation . According to Sebi, the company secured a total of Rs 977.75 crore in loans, of which Rs 663.89 crore was meant specifically for the purchase of 6,400 electric vehicles (EVs). These EVs were procured by the company and subsequently leased to BluSmart, a related party. However, in a response submitted to Sebi in February, Gensol Engineering admitted that it had procured only 4,704 EVs till date, while it had received funding for 6,400 EVs. This was corroborated by Go-Auto Private Limited, the EV supplier, which confirmed delivering 4,704 units to the company for a total consideration of Rs 567.73 crore. Given that Gensol Engineering was also required to provide an additional 20% equity contribution, the total expected outlay for the EVs was around Rs 829.86 crore. By that calculation, Rs 262.13 crore remains unaccounted for, said people in the know.
Economic Times
22-05-2025
- Business
- Economic Times
Interim relief for Puneet Singh, Gensol for usage of defamatory words against them
A Delhi court granted interim relief to Puneet Singh, co-founder of Gensol Engineering and BluSmart, against defamatory statements. The court clarified that fair and accurate reporting of investigations and court proceedings is still permitted. This comes amidst investigations by the Ministry of Corporate Affairs, NFRA, and ED into Gensol Engineering following fraud allegations, including fund diversion and FEMA violations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: A Delhi court has allowed interim relief sought by Puneet Singh , co-founder, Gensol Engineering Ltd , the company and its affiliate BluSmart for usage of defamatory words which are unsubstantiated or court has however clarified that the order shall not have any bearing on the merits of the matter and shall not be construed to restrain any person from reporting about investigation and court proceedings in relation to the allegations so long as it is fair and accurate reporting based on duly substantiated, conclusive and verified was represented by his advocate Ayush Jindal. Jindal had argued that the publication contained reckless innuendos, distorted facts, prejudicial implications thereby violating plaintiffs rights guaranteed under Articles 19 & 21 of Constitution of India. It is also stated that the defamatory material constitutes an egregious assault upon the personal and professional court while granting the interim relief opined that Court very much understands and recognises that there is freedom of speech and expression under Articles 19(1)(a) of the Constitution of India, however, these are not absolute rights but have limitations contained within itself under Article 19(2) of the Ministry of Corporate Affairs, the National Financial Reporting Authority (NFRA) and the Enforcement Directorate are looking into the books of Gensol Engineering following fraud allegationsIn April, Sebi banned the promoters of renewable energy company Gensol Engineering Ltd , brothers, Anmol and Puneet Jaggi, from the capital markets over alleged fund diversion and document falsification. The regulator also ordered a forensic investigation. Soon thereafter, BluSmart, an all-electric vehicle ride-hailing service promoted by the Jaggi brothers, began shutting its Fema case is focusing on whether funds to the tune of Rs 200 crore routed through a car dealer and cycled back to promoter-linked entities were in contravention of FEMA norms. Some of it was used for unrelated personal expenses, including buying luxury real the centre of the controversy is the alleged misutilisation of term loans availed by Gensol Engineering Ltd from state-run Indian Renewable Energy Development Agency and Power Finance Corporation . According to Sebi, the company secured a total of Rs 977.75 crore in loans, of which Rs 663.89 crore was meant specifically for the purchase of 6,400 electric vehicles (EVs). These EVs were procured by the company and subsequently leased to BluSmart, a related in a response submitted to Sebi in February, Gensol Engineering admitted that it had procured only 4,704 EVs till date, while it had received funding for 6,400 EVs. This was corroborated by Go-Auto Private Limited, the EV supplier, which confirmed delivering 4,704 units to the company for a total consideration of Rs 567.73 that Gensol Engineering was also required to provide an additional 20% equity contribution, the total expected outlay for the EVs was around Rs 829.86 crore. By that calculation, Rs 262.13 crore remains unaccounted for, said people in the know.
Time of India
22-05-2025
- Business
- Time of India
Interim relief for Puneet Singh, Gensol for usage of defamatory words against them
Mumbai: A Delhi court has allowed interim relief sought by Puneet Singh , co-founder, Gensol Engineering Ltd , the company and its affiliate BluSmart for usage of defamatory words which are unsubstantiated or unverified. The court has however clarified that the order shall not have any bearing on the merits of the matter and shall not be construed to restrain any person from reporting about investigation and court proceedings in relation to the allegations so long as it is fair and accurate reporting based on duly substantiated, conclusive and verified material. Singh was represented by his advocate Ayush Jindal. Jindal had argued that the publication contained reckless innuendos, distorted facts, prejudicial implications thereby violating plaintiffs rights guaranteed under Articles 19 & 21 of Constitution of India. It is also stated that the defamatory material constitutes an egregious assault upon the personal and professional reputation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Use an AI Writing Tool That Actually Understands Your Voice Grammarly Install Now Undo The court while granting the interim relief opined that Court very much understands and recognises that there is freedom of speech and expression under Articles 19(1)(a) of the Constitution of India, however, these are not absolute rights but have limitations contained within itself under Article 19(2) of the Constitution. The Ministry of Corporate Affairs, the National Financial Reporting Authority (NFRA) and the Enforcement Directorate are looking into the books of Gensol Engineering following fraud allegations Live Events In April, Sebi banned the promoters of renewable energy company Gensol Engineering Ltd , brothers, Anmol and Puneet Jaggi, from the capital markets over alleged fund diversion and document falsification. The regulator also ordered a forensic investigation. Soon thereafter, BluSmart, an all-electric vehicle ride-hailing service promoted by the Jaggi brothers, began shutting its operations. ED's Fema case is focusing on whether funds to the tune of Rs 200 crore routed through a car dealer and cycled back to promoter-linked entities were in contravention of FEMA norms. Some of it was used for unrelated personal expenses, including buying luxury real estate. At the centre of the controversy is the alleged misutilisation of term loans availed by Gensol Engineering Ltd from state-run Indian Renewable Energy Development Agency and Power Finance Corporation . According to Sebi, the company secured a total of Rs 977.75 crore in loans, of which Rs 663.89 crore was meant specifically for the purchase of 6,400 electric vehicles (EVs). These EVs were procured by the company and subsequently leased to BluSmart, a related party. However, in a response submitted to Sebi in February, Gensol Engineering admitted that it had procured only 4,704 EVs till date, while it had received funding for 6,400 EVs. This was corroborated by Go-Auto Private Limited, the EV supplier, which confirmed delivering 4,704 units to the company for a total consideration of Rs 567.73 crore. Given that Gensol Engineering was also required to provide an additional 20% equity contribution, the total expected outlay for the EVs was around Rs 829.86 crore. By that calculation, Rs 262.13 crore remains unaccounted for, said people in the know.
Business Standard
07-05-2025
- Business
- Business Standard
Colab Platforms Has Fixed May 21 As Record Date For 1:2 Stock Split
PNN Mumbai (Maharashtra) [India], May 7: Board of Directors of Colab Platforms Limited (BSE: 542866), an emerging leader in the country's sports-tech space have considered and fixed Wednesday, 21st May 2025 as a Record Date for ascertaining eligibility of shareholders for 1:2 stock split (sub-division of equity shares) of the company from 1 equity share having face value of Rs. 2 each into 2 equity shares having face value of Rs. 1 each. In a strategic move poised to reshape India's sports-technology landscape, company has announced the launch of a Rs. 250 million Sports-Tech Growth Accelerator Programme. The initiative aims to identify, support, and scale early-stage ventures across critical areas of sports innovation, ranging from athlete performance tools and esports infrastructure to gamified fitness and fan engagement platforms. Positioned under Colab's newly established Sports Innovation Division, the Accelerator is designed to serve as a launchpad for founders reimagining the future of sports--from performance tech and esports to fan engagement, athlete development, and gamified fitness. "India's sports sector is on the cusp of a digital leap, and with this Growth Accelerator, we are not just funding ideas but building an innovation engine for India's sports future. We want to back visionaries who are building for the next generation of sports, both in India and for the world," said Puneet Singh, Managing Director of Colab Platforms Limited. Highlights:- * Company launches Rs. 250 million accelerator programme to drive sports-tech innovation in India * An initiative to empower startups, strengthen collaborations, and transform the future of sports through technology * Company also unveils new subsidiary, announces interim dividend, and forays into predictive gaming market Access to a robust sports ecosystem The programme will be spearheaded by Colab's newly launched Sports Innovation Division and is set to offer not just capital, but a robust ecosystem to startups. It will include access to cutting-edge R & D infrastructure, mentorship from top industry operators and domain experts, business advisory and go-to-market strategy, and connections to sports federations, organisations, universities, and private equity firms. The selected startups will also gain opportunities to pilot their solutions within Colab's own ecosystem, which includes sports leagues, teams, events, and commerce platforms. The Colab Sports-Tech Accelerator programme will actively scout, support, and scale startups working across multiple impact-driven verticals, including, AI-Driven tools & Performance analytics, Wearable Sports Tech, Fan Engagement & Skill Based gaming platforms, Esports Infrastructure & Content IPs, Grassroots & Decentralised Athlete development, Gamified Fitness and Digital coaching models, and Sports 360° Platforms & Communities. Unveils subsidiary for sports nutrition, equipment segment In line with its broader growth strategy, Colab Platforms has incorporated a new wholly-owned subsidiary, Colab Sports Science Private Limited, which will drive the Group's expansion in the sports nutrition and equipment segment. Colab Sports Science will cater to the fast-growing demand for sports science-based products and services in India. It will operate across both online and offline channels, offering nutritional supplements, wearable gadgets, and other sport-specific technologies that align with Colab's vision to build a 360-degree sports ecosystem. Board declares interim dividend The Board of Directors of Colab Platforms has declared an interim dividend at the rate of 0.5% per share of face value of Rs. 2 each for the financial year 2025-26. The record date has been fixed as April 24, 2025. The dividend shall be paid on or before May 16, 2025, to the eligible shareholders. Colab enters predictive gaming sector As part of its broader digital expansion, Colab Platforms has formally entered the predictive gaming space, a rapidly emerging sector with over 50 million users and annual transaction volumes exceeding Rs. 50,000 crores. The company has also launched an e-commerce platform for sports. Through its new predictive gaming initiative, Colab aims to build a scalable, transaction-fee-based platform that offers users interactive and educational experiences, underpinned by advanced analytics, real-time data, and strong regulatory compliance. These strategic expansions showcase the company's unwavering commitment to innovation and its drive to provide cutting-edge experiences for its users. The foray is expected to diversify Colab Platforms' revenue streams and also strengthen its position in the evolving sports-tech and fintech convergence space. About Colab Platforms Ltd. Colab Platforms Limited is listed on the Bombay Stock Exchange. The company has been delivering innovative technological solutions across various sectors, leveraging its expertise in advanced technologies to drive growth and enhance user experiences. Colab Platforms Limited is dedicated to providing customised, technology-based processing solutions that help clients achieve their objectives and exceed expectations. Recognising India's rapid emergence as a global technology hub, Colab Platforms harnesses the nation's diverse and talented professionals to contribute significantly to the development of the professional community.
